Benefits of Higher Education: Graduate Salaries and More

The report also argues that the benefits of higher education incorporate significant contributions to society, with higher educated workers typically paying more tax.

Higher levels of education are also found to correlate with higher health insurance and pension contributions. The report argues that this in turn benefits the US economy, by preventing hospitals from providing treatment for which they are not compensated. In 2011, employers provided health insurance for 55%, 69% and 73% of full-time workers with high school diplomas, bachelor’s degrees and advanced degrees respectively.

Bachelor’s degree holders are also less likely to rely on public assistance programs, according to 2011 figures which show only 2% living in households that rely on Supplemental Nutritional Assistance Program (SNAP) benefits, compared with 12% of high school graduates.

Beyond graduate salaries and employment prospects, the report is also keen to highlight some of the lesser reported benefits of higher education. Apparently those with a college education are more likely to live healthier lifestyles, with fewer incidences of smoking and obesity. The gap between smoking rates of those with high school diplomas and those with four-year degrees has risen from 2 percentage points in 1962 to 17 points in 2012.

College-educated adults of all ages, and their children, are also less likely to be obese. In addition, mothers with higher levels of education spend more time with their children, regardless of whether they are employed or not.

Additional nonpecuniary benefits of higher education include psychological benefits derived from “the material well-being of individuals and the wealth of society”, and the increased likelihood of engaging in voluntary work and understanding political issues. And in terms of job satisfaction, 56% of workers aged 30 to 45 agree that their job keeps them learning, opposed to just over 30% with a high school diploma.

In short, the main thrust of the report is to provide reassurance that spending time and money on higher levels of education is likely to pay off – both in monetary terms and beyond. Its argument is summarized: “The evidence is clear that some form of postsecondary education is a necessary element of successful, independent lives for most people in today’s economy.”

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